Iran to resume offering furnace oil on commodity exchange

Iran Materials 8 January 2012 15:07 (UTC +04:00)

Azerbaijan, Baku, Jan. 8 / Trend F.Milad/

The National Iranian Oil Company will resume offering furnace oil ON Tuesday on the commodity exchange after a 5-month pause, Fars news agency reported.

Some 35,000 tons of furnace oil will be offered at the base price of $665.78 per ton, the report says. Furnace oil will be offered for sale to the UAE markets as of Jan.20.

Iran, which has the world's second biggest gas reserves and third biggest oil reserves, is trying to play a more active role in oil and petrochemical transactions in international markets.